Nicolás Maduro decrees new minimum wage based on Petro(cryptocurrency)

Three days after the monetary reconversion came into effect, Nicolás Maduro announced the new wage increase based on the Petro, leaving 1,800 Bolívares Soberanos (equivalent to 180 million bolívares Fuertes), similar to 30 US dollars.

"I have decided to implement a new minimum wage based and anchored in the Petro, that's why I have set the minimum wage for all salary tables BsS 1800 or 0.50 Petros, basis for the salary update, petrolizing the salary," said Maduro.

He assured that each Petro will have the value of 3,600 sovereign bolivars, the equivalent of 60 US dollars, price of a barrel of Venezuelan oil, explained the National Executive.

Maduro acknowledged on Friday that the country is dollarized, "the economic war caused the salary to go from $ 300 to $ 1." He indicated that he assumes the payroll differential for small and medium-sized companies for a period of 90 days, "I assume, I have the money to do it".

He also announced a "reconversion" bonus of 600 Sovereign Bolivars (60 million Bolívares Fuertes) for 10 million beneficiaries.